Prices in London are now sliding year on year says Home.co.uk

June 13, 2017

Latest Home.co.uk Asking Price Index released today 13th June headlines ‘Regions Prosper while London Home Prices Slide’.

Asking prices rose by 0.4% across England and Wales over the last month, despite election uncertainty, the figure is 2.8% year-on-year.

Figures reveal that Greater London prices slip by 0.1% this month making a year-on-year fall of 1.2%, it is the North and South West and the Midlands that are thriving and supporting the national average figure.

Doug Shephard Director at Home.co.uk said: “Over the last year we have observed a dramatic change of fortunes for the UK property market.

“London was the first region to slow, later to be joined by the South East, and now the East of England. Prices in the capital are now sliding year-on-year and falling about 5% in real terms. Together, these three regions constitute about 35% of the UK housing stock and much more than that by value. Their deteriorating performance will undoubtedly weigh heavily on the overall market for the foreseeable future, despite many other regions performing very well indeed”. more…

Read the Home.co.uk Asking Price Index report (June) and the comments from Doug Shephard in full click here.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Rightmove logo
Breaking News

Largest August price drop since 2018 despite mini Burnham bounce in demand

Average newly-listed asking prices drop by 2.0% (-£7,360) this month to £364,999, a much larger than usual August drop: Many summer sellers slash their price expectations in reaction to the quieter holiday period and 12-year high number of homes for sale at this time of year Average prices are now 1.0% lower than a year…
Read More →
Estate Agent Talk

Why Estate Agencies Need a Scalable Finance Function to Support Growth

Estate agency growth rarely comes from simply opening up additional branches. It comes from the work you do behind the scenes once those branches start generating real volume. With so much going on, your finance department is usually the last to scale, and that’s exactly why it becomes the bottleneck. Growth exposes the cracks in…
Read More →
can you drink tap water
Breaking News

Five heatwave home horrors that could stop your property from selling

The latest research from House Buyer Bureau has revealed the heatwave-related issues most likely to deter potential homebuyers during a viewing, with strong smells from drains and sewage ranking as the biggest turn-off, followed by excessive noise when windows are open and bad smells from bins or rubbish. House Buyer Bureau commissioned an independent survey of…
Read More →
Surge in country and seaside property values
Breaking News

Air-conditioning searches double as 61% consider installing it

Searches for homes for sale on Rightmove with air conditioning have more than doubled this summer, up 104% compared with the same period last year New consumer research from Rightmove, the UK’s largest property platform, reveals that recent heatwaves are influencing how Brits think about their homes, with staying cool becoming a key priority: 61%…
Read More →
Estate Agent Talk

Why Cases Stall in Summer and What Agents Can Do About It

By Cara Stanbridge, Head of Relationship Management at Nova Conveyancing Every year, we hear talk of the summer slowdown. But from what I see working closely with agents, conveyancers and clients, the issue isn’t usually a lack of activity. More often, it’s keeping transactions moving when everyone involved is juggling higher workloads, holidays and competing…
Read More →
small house bird box
Breaking News

Britain’s property hotspots revealed

The Scottish city where houses sell fastest – and the town where it takes SIX TIMES as long to sell your home Homes in Glasgow sell three times faster than the UK average – making the Scottish city the fastest selling in Britain Wakefield is the slowest-selling city in Britain, with homes spending twice as…
Read More →